North Dakota Housing Finance Agency accepting applications for multiple programs

Keith Norman, The Jamestown Sun, N.D.
·2 min read

Aug. 18—The North Dakota Housing Finance Agency is currently accepting applications for programs that support affordable rental housing development and provide homeownership and rental assistance for low-income households, according to a press release from the agency.

"These programs help address the housing needs of our state's most vulnerable populations — low-wage workers, and individuals and families who are aging, are in need of an accessible home, and/or are at risk of homelessness," said Dave Flohr, the Housing Finance Agency's executive director.

There are four programs with available funding. NDHFA is the administrator of the state's Housing Incentive Fund, and oversees three federally-funded programs — HOME Investment Partnerships, Low Income Housing Tax Credit and National Housing Trust Fund (HTF).

In North Dakota, HOME supports affordable rental housing production and funds homeownership and rental assistance programs. Approximately $3 million is available, Flohr said.

Low Income Housing Tax Credits encourage private sector investment in affordable housing through tax incentives. Property owners receive the credits for up to 10 years based on their capital investment and a project's level of commitment to low-income tenancy. The North Dakota Housing Finance Agency will have $2.9 million in credit authority available which will generate more than $25 million in project equity.

The Housing Trust Fund's purpose is to increase and preserve the supply of housing for extremely low-income households, including homeless individuals and families. Through this program, $3 million is available.

North Dakota's Housing Incentive Fund helps to ensure project feasibility, filling gaps in financing to increase affordability and supporting the development of housing in both urban and rural communities. During the state's most recent legislative session, Housing Finance received $9.5 million for project financing.

The application process for the programs is competitive with the top-scoring projects awarded conditional commitments from Housing Finance. Applicants must provide evidence that there is a need for the proposed project or program, and that the costs are reasonable. The application deadline for all of these programs is 5 p.m. Central Time on Sept. 30.

More information on the assistance offered is available at www.ndhfa.org or by contacting the agency's planning and housing development division at (800) 292-8621 or hfainfo@nd.gov.